Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Steel Partners Holdings LP's annualized net income for the quarter that ended in Sep. 2025 was $285 Mil. Steel Partners Holdings LP's average shareholder tangible equity for the quarter that ended in Sep. 2025 was $1,052 Mil. Therefore, Steel Partners Holdings LP's annualized Return-on-Tangible-Equity for the quarter that ended in Sep. 2025 was 27.09%.
The historical rank and industry rank for Steel Partners Holdings LP's Return-on-Tangible-Equity or its related term are showing as below:
SPLP'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -21.88 Med: 28.33 Max: 42.25
Current: 26.66
During the past 13 years, Steel Partners Holdings LP's highest Return-on-Tangible-Equity was 42.25%. The lowest was -21.88%. And the median was 28.33%.
SPLP's Return-on-Tangible-Equity is not ranked
in the Conglomerates industry.
Industry Median: 7.38
vs SPLP: 26.66
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Steel Partners Holdings LP Return-on-Tangible-Equity Related Terms
Steel Partners Holdings LP Return-on-Tangible-Equity Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
SPLP vs MATW, DLX, FIP: Return-on-Tangible-Equity Comparison
For the Conglomerates subindustry, Steel Partners Holdings LP's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Steel Partners Holdings LP Return-on-Tangible-Equity vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, Steel Partners Holdings LP's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Steel Partners Holdings LP's Return-on-Tangible-Equity falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Sep. 2025) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 27.09% mean?
Steel Partners Holdings LP (SPLP) has a Return-on-Tangible-Equity of 27.09% as of Sep. 2025. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Steel Partners Holdings LP and its competitors. This is near median its historical median of 28.33.
Is Steel Partners Holdings LP's Return-on-Tangible-Equity too high?
Steel Partners Holdings LP's current Return-on-Tangible-Equity of 27.09% is near median its 10-year median of 28.33. The Conglomerates industry median Return-on-Tangible-Equity is 7.38. Steel Partners Holdings LP's value of 27.09% is 267.1% above this industry median. Overall, Steel Partners Holdings LP has a GF Score™ of 66/100, reflecting its overall financial health beyond just this single metric.
How does Steel Partners Holdings LP's Return-on-Tangible-Equity compare to MATW and DLX?
Steel Partners Holdings LP's Return-on-Tangible-Equity of 27.09% can be compared against companies in the Conglomerates industry. The industry median Return-on-Tangible-Equity is 7.38. Steel Partners Holdings LP's value of 27.09% is 267.1% above this benchmark. While the company's 10-year median is 28.33 vs. the industry median of 7.38, Steel Partners Holdings LP has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Equity for a Conglomerates company?
The median Return-on-Tangible-Equity among Conglomerates companies is 7.38, based on 546 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Steel Partners Holdings LP's current Return-on-Tangible-Equity of 27.09% is 267.1% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Steel Partners Holdings LP and its competitors. For the Conglomerates industry, the median Return-on-Tangible-Equity is 7.38 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Steel Partners Holdings LP's current Return-on-Tangible-Equity is 27.09%, which is near median its own 10-year median of 28.33. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Steel Partners Holdings LP stock overvalued right now?
Steel Partners Holdings LP (SPLP) has a current Return-on-Tangible-Equity of 27.09%. The stock's GF Value™ is $51.26, compared to a current price of $50.00 — trading 2.5% below its estimated fair value. The current Return-on-Tangible-Equity is 27.09%, which is near median its 10-year median of 28.33 and 267.1% above the Conglomerates industry median of 7.38. Steel Partners Holdings LP's overall GF Score™ is 66/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For Steel Partners Holdings LP (SPLP), the current Return-on-Tangible-Equity is 27.09% as of Sep. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Steel Partners Holdings LP (SPLP) Overvalued in 2026?
Based on GuruFocus' analysis, Steel Partners Holdings LP stock appears to be undervalued.
The current stock price of $50.00 is trading 2.5% below its estimated GF Value™ of $51.26.
Key valuation signals for SPLP:
Return-on-Tangible-Equity: 27.09% (near median its 10-year median of 28.33)
GF Value™: $51.26 vs. price of $50.00 (2.5% below fair value)
Industry Position: 267.1% above the Conglomerates median
No single metric tells the full story. See the SPLP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Steel Partners Holdings LP operates in industrial products, energy, defense, supply chain management and logistics, banking, and youth sports industries. Its segments include the Diversified Industrial segment comprised of manufacturers of engineered niche industrial products, joining materials, tubing, building materials, performance materials etc; the Energy segment provides drilling and production services to the oil and gas industry and owns a youth sports business; the Financial Services segment consists of the operations of WebBank, a Utah chartered industrial bank, which engages in full range of banking activities; The Supply Chain segment consists of end-to-end world-wide supply; and Corporate and Other consists of equity method and other investments, and cash and cash equivalents.
66GF Score
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